FX forecast for Aug. 12

Today's main intrigue for the forex players is the decision of the Fed's monetary policy committee, Financial Brains director PhD Sveatoslav Mihalache has told Info-Prim Neo. And while most players expect the key rate to remain unchanged at 0.25 percent, the commentaries by Federal Reserve president Ben Bernanke at a news conference later today are what will count the most. “Larger purchases of treasury security will impact negatively on the US dollar; it will be better if the amount of purchases stays within predictions. In this case, the dollar will remain approximately in yesterday's trading corridor”, says Mihalache. Also today there will be published key macroeconomic indicators on the US budget deficit and trade gap. The technical analysis of graphs shows there is a possibility of a correction to $1.4280. [USD/MDL] Moldovan exchange facilities will display the following rates: 11.17 – 11.19 lei (bid) and 11.24 – 11.26 lei (ask). [EUR/USD] 15.70 – 15.75 (bid) and 15.90 – 15.93 lei (ask). For further details visit www.fb.md